The first Connecticut health insurer to file proposed rates for health plans that will be sold on a public exchange, HealthyCT Inc. is requesting monthly rates ranging from $156 to $1,501 per person for small-group plans, according to regulatory documents.
Some young people are likely to experience sticker shock when shopping for health insurance next year, as new regulations take hold to reduce price variation based on age.
A limit on pricing by age is among the many new federal regulations that will apply to health plans sold in the fall of 2013 for the 2014 calendar year — all part of federal health care reform.
Most states allow insurance companies to vary the price of health insurance based on a customer’s age. Older customers could pay up to seven times what young people pay.
In an ongoing effort by health insurers to get customers to live healthier lives, Aetna Inc. this week announced a new reimbursement program to reduce the price of gym memberships, exercise equipment and other health aids.
For example, a person could get cash back after buying a treadmill or signing up to go to the gym, provided that person has both Aetna as a health insurer and an employer that agrees to pay to reimburse a portion of exercise expenses. Aetna’s Fitness Reimbursement Program is a collaboration with GlobalFit, which owns gyms and exercise programs.
Harvard Pilgrim Health Care Inc. wants to break into the Connecticut health insurance market, taking on five large health-insurers that dominate the market, which is home turf for four of them — Aetna, Anthem Blue Cross and Blue Shield in Connecticut, Cigna and ConnectiCare.
The other is Minnetonka, Minn.,-based UnitedHealthcare, the nation’s largest health insurer, which has a major presence in Connecticut with about 4,200 workers.